Here's why Ireda shares advanced 3% in trade on March 28; details here

Ireda shares rose after it inked a Facility Agreement for raising External Commercial Borrowing (ECB) from SBI, Tokyo Branch

Ireda share price: State-owned financial services company Indian Renewable Energy Development Agency Limited (Ireda) shares increased up to 2.99 per cent to an intraday high of Rs 166.75 per share, on BSE, on March 28, 2025. 

 

The positive move in the Ireda share price came after it signed a Facility Agreement for raising External Commercial Borrowing (ECB) from SBI, Tokyo Branch for JPY 26 billion, including a Green Shoe Option of JPY 10 billion.

 

This five-year unsecured facility, with bullet payment at maturity, is set to strengthen Ireda’s global market presence, the company said. 

 

“The landed cost (after hedging) is expected to be below 7 per cent, making it more cost-effective than similar-tenure loans in the domestic market,” Ireda said.

 

“This facility enables us to diversify our resource base and optimise costs, enhancing our lending operations to support India’s renewable energy sector. The transaction reflects the strong confidence of global investors in Ireda’s financial stability and growth potential,” said Pradip Kumar Das, chairman and managing director of Ireda.

 

Ireda is currently rated ‘BBB-' long-term and 'A-3' short-term with Outlook ‘Stable’ from S&P Global, underscoring its highest standards of corporate governance and credibility in international markets.

 

Ireda Q3 results

 

Ireda posted a net profit of Rs 425.38 crore in Q3FY25. It is 27 per cent more than the net profit of Rs 335.53 crore reported in Q3FY24. The Q3FY25 total revenue from operations stood at Rs 1,698.45 crore which was up 35.6 per cent year-on-year (Y-o-Y) from the Rs 1,252.85 crore posted in Q3FY24. READ MORE

 

About Ireda

 

Set up in 1987, Ireda is a public sector enterprise. It operates under the ownership of the Government of India and falls under the administrative oversight of the Ministry of New and Renewable Energy (MNRE). Ireda's primary mission is to promote and facilitate the development of projects related to renewable energy sources and energy efficiency.  

 

As a Non-Banking Financial Institution (NBFC) and a Mini Ratna (Category – I) enterprise, it plays a crucial role in providing financial assistance and other essential services to support the growth of green power capacity. 

 

Additionally, Ireda finances the establishment of solar manufacturing units and encourages the adoption of renewable energy to foster sustainable development. 

 

The market capitalisation of Ireda is Rs 43,824 crore, according to BSE. The company falls under the BSE 200 category.

 

At 12:20 PM, Ireda shares were trading 0.71 per cent higher at Rs 163.05. By comparison, BSE Sensex was trading 0.07 per cent lower at 77,551.83 levels.